LAC 16:II.105. Selection Criteria to Award HOME Funds for Affordable Rental Housing

A. Applications for HOME funds will be rated in accordance with the selection criteria (Appendix IX) for which the applicant must initially indicate that the project qualifies. APPENDIX IX Selection Criteria to Award Home Funds to Affordable Rental Housing Projects The Applicant hereby requests priority consideration based upon the Project satisfying one or more of the following conditions (minimum threshold of 115 points required): points A. Project Provides Amenities (attach description of amenities to be provided) 20 _____ B. Project Provides Community Facilities 20 _____ C. Ratio of Project's Intermediary Cost to Development Costs (See Page 5 for formula to calculate ratio) (i) Less than or equal to 10 percent 20 ____ (ii) More than 10 percent but less than or equal to 15 percent 15 ____ (iii) More than 15 percent but less than or equal to 20 percent 10 ____ (iv) More than 20 percent 0 ____ D. As indicated in Section V on Page 8, 30 percent or more of project units serve households whose incomes are at the following percentages of median income (i) 20 percent or less 25 ____ (ii) more than 20 percent but less than 30 percent 20 ____ (iii) more than 30 percent but less than 40 percent 15 ____ (iv) more than 40 percent but less than 45 percent 10 ____ E. Project will enter Extended Low Income Use Agreement years of compliance period agreement to continue low-income restrictions (i) 20 years or more 10 ____ (ii) 25 years or more 15 ____ (iii) 30 years or more 20 ____ F. Project Located in Qualified Census Tract/Difficult Development Area / RD Target Area 25 _____ G. Project Serves Special Needs Groups [Check one or more] (i) Elderly _____ (ii) Homeless _____ (iii) Handicapped _____ (a) 100 Percent of units or 50 units serve special needs group 20 _____ (b) 50 Percent or 25 units serve special needs group 15 _____ (c) 25 Percent or 15 units serve special needs group 10 _____ H. Project contains Handicapped Equipped Units (i) 5 percent but less than 10 percent 5 ____ (ii) 10 percent but less than 15 percent 10 ____ (iii) 15 percent or more 15 ____ I. Project Serves Large Families Percentage of Units having Four or more Bedrooms (i) 5 percent but less than 10 percent 5 ____ (ii) 10 percent but less than 15 percent 10 ____ (iii) 15 percent but less than 20 percent 15 ____ J. Project to Provide Supportive Services (attach description of Supportive Services to be provided, the costs thereof and the source of funding such services) 25 _____ K. Project is Single Room Occupancy 10 _____ L. Project is Scattered Site 30 _____ M. Developer submitted an executed Referral Agreement with Local PHA pursuant to which Developer agrees to rent low income units to households at the top of PHA's waiting list 10 _____ N. Project has RD Financing Commitment Letter 10 _____ O. Project involves New Construction in Areas with 95 percent or more residential rental occupancy 10 _____ P. Local Nonprofit Sponsor of Project 10 _____ Q. Distressed Properties (written certification from HUD or RD that property is distressed must be included in application) 20 _____ R. Project Receives Historic Tax Credits or involves Substantial Rehabilitation 25 _____ or Project located in historic district but does not qualify for historic credits 15 _____ (Certification by local jurisdiction is required) S. Project is an Abandoned Project 15 _____ T. Vacant Units in Project as Percentage of Total Units (i) Minimum of 25 percent and less than 50 percent 10 ____ (ii) Minimum of 51 percent and less than 75 percent 20 ____ (iii) Minimum of 76 percent and less than 100 percent 30 ____ U. Project involves Low Income Units which do not exceed: (i) 60 percent of the Total Project units 10 ____ (ii) 50 percent of the Total Project units 15 ____ (iii) 40 percent of the Total Project Units 20 ____ V. Leverage Ratio (Divide Total Dollars from Sources other than HOME Funds by HOME Funds and round to nearest whole multiple) 1 0 _____ 2 5 _____ 3 10 _____ 4 15 _____ 5 20 _____ 6 25 _____ 7 30 _____ 8 35 _____ W. Project Involves Lease-to-Own of one unit buildings with Title Transfer to Occupant within 20 years of Placed in Service 25 _____ X. Contact Person who Attended Agency sponsored Workshop Specify Name of Contact Person: ____________________ 10 _____ Y. Developer Fees (including Builder Profit and Builder Overhead when there exists Identity of Interest between Builder and Developer) are 10 percent or less of Developer Fee Base 15 _____ Z. Penalty Points (i) Net Syndication Proceeds < 110 percent Developer Fee 15 _____ (ii) Incomplete or Missing Exhibits, Appendices or Documents (5 - Points to be deducted per item) Item 1. 5 _____ Item 2. 5 _____ Item 3. 5 _____ Item 4. 5 _____ 5 or more Items: Application will be deemed incomplete 5 _____ AA. Match Certification Matching Certification exceeds $50,000 50 _____ AB. LDED - Economic Development Project located in a geographic area certified by the Louisiana Department of Economic Development are eligible for points as follows: Areas with an Empowerment Zone/Empowerment Community (EZ/EC) designation 20 _____ Areas showing growth of 50 percent or more in economic indicators determined by LDED 15 _____ Areas with an EZ/EC Champion Community Designation 10 _____ AC. Phase I Environmental Site Assessment prepared by qualified environmental specialist provided with application 10 _____ Formula to Calculate Ratio of Project's Intermediary Cost to Development Costs: Step 1: Add following amounts from Appendix II. Line II.B (Land Improvements) $ __________ Line II.C(ii) (Demolition) $ __________ Line II.C(iii) (Rehab or New Construction) $ __________ total: $ __________ Step 2: Add Following Amounts from Appendix II. Line II.D (Subtotal) $ __________ Line II.F (Subtotal) $ __________ Line II.G (Subtotal) $ __________ total: $ __________ Step 3: Divide Total of Step II by Total of Step I and specify percentage.